Quantbot Technologies LP Buys 34,901 Shares of WEC Energy Group, Inc. (NYSE:WEC)

Quantbot Technologies LP grew its stake in shares of WEC Energy Group, Inc. (NYSE:WEC) by 155.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,325 shares of the utilities provider’s stock after acquiring an additional 34,901 shares during the quarter. Quantbot Technologies LP’s holdings in WEC Energy Group were worth $4,498,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of WEC. Sierra Summit Advisors LLC bought a new stake in WEC Energy Group during the 2nd quarter valued at about $365,000. Dimensional Fund Advisors LP increased its position in shares of WEC Energy Group by 16.7% during the second quarter. Dimensional Fund Advisors LP now owns 1,117,931 shares of the utilities provider’s stock valued at $87,713,000 after acquiring an additional 160,128 shares in the last quarter. Bruce & Co. Inc. purchased a new position in WEC Energy Group in the 2nd quarter worth approximately $354,000. Brown Brothers Harriman & Co. lifted its position in WEC Energy Group by 434.7% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 1,866 shares of the utilities provider’s stock valued at $146,000 after acquiring an additional 1,517 shares in the last quarter. Finally, Rathbones Group PLC boosted its stake in WEC Energy Group by 10.7% during the 2nd quarter. Rathbones Group PLC now owns 778,583 shares of the utilities provider’s stock valued at $61,088,000 after purchasing an additional 75,089 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Insider Activity

In related news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now owns 2,377 shares of the company’s stock, valued at approximately $213,335.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other WEC Energy Group news, VP Joshua M. Erickson sold 350 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $89.75, for a total value of $31,412.50. Following the completion of the transaction, the vice president now directly owns 2,377 shares in the company, valued at approximately $213,335.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Anthony Reese sold 1,362 shares of WEC Energy Group stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $88.78, for a total transaction of $120,918.36. Following the sale, the vice president now owns 1,462 shares in the company, valued at approximately $129,796.36. The disclosure for this sale can be found here. Insiders have sold 11,702 shares of company stock worth $1,078,058 in the last three months. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

WEC has been the topic of a number of research analyst reports. StockNews.com downgraded WEC Energy Group from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Bank of America upped their target price on shares of WEC Energy Group from $88.00 to $90.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of WEC Energy Group from $98.00 to $103.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Barclays increased their price objective on shares of WEC Energy Group from $80.00 to $86.00 and gave the company an “underweight” rating in a research report on Tuesday, August 6th. Finally, BMO Capital Markets lifted their target price on shares of WEC Energy Group from $91.00 to $93.00 and gave the stock a “market perform” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, WEC Energy Group currently has an average rating of “Hold” and a consensus target price of $90.42.

WEC Energy Group Price Performance

Shares of WEC Energy Group stock opened at $96.13 on Tuesday. The stock has a market cap of $30.38 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.44 and a beta of 0.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.54 and a current ratio of 0.74. The stock’s fifty day moving average is $88.52 and its 200 day moving average is $83.54. WEC Energy Group, Inc. has a one year low of $75.13 and a one year high of $96.65.

WEC Energy Group (NYSE:WEC) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.63 by $0.04. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.87 billion. WEC Energy Group had a return on equity of 12.26% and a net margin of 15.85%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 earnings per share. Sell-side analysts anticipate that WEC Energy Group, Inc. will post 4.88 earnings per share for the current year.

WEC Energy Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 14th were paid a $0.835 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $3.34 dividend on an annualized basis and a dividend yield of 3.47%. WEC Energy Group’s dividend payout ratio (DPR) is presently 72.93%.

About WEC Energy Group

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.